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Sponsorship renewal looks beyond 2010
Standard Bank has renewed its investment in, and sponsorship of, South African soccer giants Kaizer Chiefs and Orlando Pirates, with a five-season deal valued at R70 million ending in 2011. While the provision of financial services will remain key to the relationship, the renewed investment and elevation to official banking partner affords the bank a much wider business and marketing platform to reach soccer fans and, specifically, the clubs' supporters.
Over the contractual period, ending in 2011, Standard Bank will inject R30 million into each of the two clubs. Kaizer Chiefs and Orlando Pirates are to receive R5 million in 2006, with the investment escalating annually until the end of the 2010/2011 soccer season. In addition to these sponsor rights, Standard Bank will contribute R5.75 million to each club for joint marketing initiatives.
This increased investment means that Standard Bank will become the official banking partner to Kaizer Chiefs and Orlando Pirates. Previously, Standard Bank had been the official banking supplier to both clubs.
Long term
Speaking at the announcement to the media in Johannesburg yesterday, Tuesday, 25 July 2006, Lincoln Mali, director of Standard Bank, explained the alignment of Standard Bank's sponsorship focus: "The 2010 World Cup is a critical goal for us, as it is for all South Africans and others on the African continent. We must not forget though that we need to build soccer beyond 2010 and our commitment is for the long term.
"This renewed investment with Kaizer Chiefs and Orlando Pirates is one that looks beyond the World Cup," said Mali.
"Standard Bank welcomes the opportunity to develop and deepen the partnership with the Amakhosi and the Bucs - and their supporters. It makes our brand relevant to soccer fans locally. It's a way of building and strengthening long-term relationships with our customers. The positive association resulting from sharing this passion for the beautiful game with our customers, and supporting these giants of South African soccer, assists us in building the Standard Bank brand," he explained.
Shared passion
"Standard Bank is proud to connect directly - through the sponsorship - with the unique make-up, soul and passion of Kaizer Chiefs and Orlando Pirates. We believe this shared passion for the future of South African soccer, up to and beyond 2010, will have enormous benefits for our customers and the clubs' fans."
In March this year, Standard Bank announced a R15 million injection into African football over three years, becoming an official partner to the MTN CAF Champions League, and the MTN Africa Cup of Nations in Ghana 2008.
